Holiday Cheer For Signet Stores

January 10, 2012

Bermuda-based Signet Jewellers Ltd., the largest specialty retail jeweller in the US and the UK, said today [Jan.10] that same-store sales for the nine-week holiday season grew by 7.8 percent, year-over-year.

In the US, which accounts for about 80 percent of total group sales, same-store sales increased 9.2 percent for the holiday period. The company operates Kay Jewelers, Jared The Galleria Of Jewelry and a number of regional brands.

In the UK, which accounts for about 20 percent of total group sales, same-store sales rose by 1.8 percent for the period. Last season, same-store sales fell in the UK. The company operates H.Samuel, Ernest Jones, and Leslie Davis retail chains.

Internet sales rose by 24 percent for the period, the company said during a conference call.

Based on the results, the Bermuda company, which operates approximately 1,860 retail jewellery stores in the US and UK, now expects its income in fiscal 2012 to increase from 64 to 67 percent to $494 to $501 million.

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